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Yahoo
14 hours ago
- Business
- Yahoo
Best high-yield savings interest rates today, June 28, 2025 (earn up to 4.31% APY)
Find out how much you could earn with today's savings rates. The Federal Reserve cut its target rate three times in late 2024, which means savings interest rates are falling. So it's important to be sure you're getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers. The national average savings account rate stands at 0.42%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%. Although the national average savings interest rate is fairly low compared to other investments, the best savings rates on the market today are much higher. In fact, some of the top accounts are currently offering 4% APY and up. As of June 28, 2025, the highest savings account rate available from our partners is 4.31% APY. This rate is offered by VIO Bank and there is no minimum opening deposit required. Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your region. The amount of interest you can earn from a savings account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily). Say you put $1,000 in a savings account at the average interest rate of 0.42% with daily compounding. At the end of one year, your balance would grow to $1,004.12 — your initial $1,000 deposit, plus just $4.12 in interest. Now let's say you choose a high-yield savings account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest. The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you'd earn $408.08 in interest. Read more: What is a good savings account rate? This embedded content is not available in your region.
Yahoo
5 days ago
- Business
- Yahoo
Best high-yield savings interest rates today, June 24, 2025 (Earn up to 4.31% APY)
The Federal Reserve reduced its target interest rate three times in 2024. As a result, high-yield savings account rates have been falling. That said, some of the best accounts still pay above 4% APY. In order to get the highest interest rate possible on your savings, it's important to do your research and find competitive offers. Not sure where to start? Here's a closer look at savings interest rates today and where you can find the best ones. The average interest rate on a traditional savings account is only 0.42%, according to the FDIC. However, the best savings rates can be found on high-yield accounts, which often pay much more. As of June 24, 2025, the highest savings account rate available from our partners is 4.31% APY. This rate is offered by VIO Bank and there is no minimum opening deposit required. Here is a look at some of the best savings rates available today from our verified partners: Over the last decade, savings account interest rates have fluctuated quite a bit. From 2010 to about 2015, rates were rock-bottom, hovering at around 0.06% to 0.10%. This was largely due to the 2008 financial crisis and the Federal Reserve's decision to lower its target rate to near zero in order to spur economic growth. From 2015 to 2018, interest rates began to increase gradually. However, they remained low by historical standards. Then the onset of the COVID-19 pandemic in 2020 led to another sharp decrease in rates as the Fed once again cut rates to stimulate the economy. This brought average savings interest rates down to new lows, around 0.05% to 0.06% by mid-2021. Since then, savings account rates have recovered considerably, largely driven by the Fed's interest rate hikes in response to skyrocketing inflation. However, the Fed finally lowered the federal funds rate in September, November, and December 2024, and as a result, deposit rates are beginning to fall as well. The following is a look at how savings interest rates have changed over the past decade: Despite the fact that interest rates have risen substantially since 2021, the average savings account rate is still fairly low, especially compared to market investments. If you're saving for a long-term goal such as a child's education or retirement, a savings account probably won't generate the returns needed to reach your goal. On the other hand, if you're saving for an emergency fund, home down payment, vacation, or other short-term goal, a high-yield savings account is ideal — especially if you want to access the funds as needed. Other types of deposit accounts, including money markets and CDs, may offer similar or even better rates, but restrict how often you can make withdrawals. The key is to shop around and find an account that provides a competitive rate with low or no fees.
Yahoo
6 days ago
- Business
- Yahoo
Best high-yield savings interest rates today, June 23, 2025 (Earn up to 4.31% APY)
Today's savings account rates still hover well above the national average. The Federal Reserve cut the federal funds rate three times in 2024, which means deposit account rates are also on the decline. It's more important than ever to ensure you're earning the highest rate possible on your savings, and a high-yield savings account could be the solution. These accounts pay more interest than the typical savings account — as much as 4% APY and higher in some cases. Not sure where to find the best savings interest rates today? Read on to find out which banks have the best offers. In general, high-yield savings accounts offer better interest rates than traditional savings accounts. Still, rates vary widely across financial institutions. That's why it's important to shop around and compare rates before opening an account. As of June 23, 2025, the highest savings account rate available from our partners is 4.31% APY. This rate is offered by VIO Bank and there is no minimum opening deposit required. As you'll see, the majority of top savings rates come from online banks. These institutions have much lower overhead costs than traditional banks, so they can pass those savings on to customers in the form of higher rates and lower fees. Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your region. A high-yield savings account can be a good fit if you're looking for a secure place to store your money and earn a competitive interest rate while maintaining liquidity. Traditional savings accounts and certificates of deposit (CDs) have some of the highest interest rates we've seen in more than a decade, thanks to recent interest rate hikes by the Federal Reserve. Even so, the national average for these rates is fairly low compared to the top offers available. For example, the average savings account rate is just 0.38%, while 1-year CDs pay 1.62%, on average, according to the FDIC. The Fed is also expected to lower its target rate again in 2025, which means now might be the last chance for savers to take advantage of today's high rates. Taking the time to compare accounts and rates from various financial institutions will help you secure the best deal available. However, interest rates aren't the only factor to consider when choosing a savings account. For example, some banks may require that you maintain a minimum balance to earn the highest advertised rate and avoid monthly fees. Other factors to evaluate include customer service options and hours, ATM and branch access, digital banking tools, and the overall financial stability of the institution. Additionally, before opening a savings account, be sure that it's insured by the Federal Deposit Insurance Corporation (FDIC) — or the National Credit Union Administration (NCUA) if it's held by a credit union — so your money is protected in case the institution fails. Read more: How to open a savings account: A step-by-step guide
Yahoo
7 days ago
- Business
- Yahoo
Best high-yield savings interest rates today, June 22, 2025 (best accounts offering 4.0% APY)
Find out how much you could earn with today's savings rates. The Federal Reserve cut its target rate three times in late 2024, which means savings interest rates are falling from their historic highs. It's important to be sure you're getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers. The national average savings account rate stands at 0.38%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%, reflecting a sharp rise in a short period of time. As of June 22, 2025, the highest savings account rate available from our partners is 4.31% APY. This rate is offered by VIO Bank and there is no minimum opening deposit required. Since these rates may not be around much longer, consider opening a high-yield savings account now to take advantage of today's high rates. Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your region. The amount of interest you can earn from a savings account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily). Say you put $1,000 in a savings account at the average interest rate of 0.42% with daily compounding. At the end of one year, your balance would grow to $1,004.12 — your initial $1,000 deposit, plus just $4.12 in interest. Now let's say you choose a high-yield savings account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest. The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you'd earn $408.08 in interest. Read more: What is a good savings account rate?
Yahoo
21-06-2025
- Business
- Yahoo
Best high-yield savings interest rates today, June 21, 2025 (earn up to 4.31% APY)
Find out how much you could earn with today's savings rates. The Federal Reserve cut its target rate three times in late 2024, which means savings interest rates are falling. So it's important to be sure you're getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers. The national average savings account rate stands at 0.42%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%. Although the national average savings interest rate is fairly low compared to other investments, the best savings rates on the market today are much higher. In fact, some of the top accounts are currently offering 4% APY and up. As of June 21, 2025, the highest savings account rate available from our partners is 4.31% APY. This rate is offered by VIO Bank and there is no minimum opening deposit required. Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your region. The amount of interest you can earn from a savings account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily). Say you put $1,000 in a savings account at the average interest rate of 0.42% with daily compounding. At the end of one year, your balance would grow to $1,004.12 — your initial $1,000 deposit, plus just $4.12 in interest. Now let's say you choose a high-yield savings account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest. The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you'd earn $408.08 in interest. Read more: What is a good savings account rate? This embedded content is not available in your region.
